Zone Resources Inc. Adds to its Labrador Trough Iron Project

Zone Resources Inc. (CVE:ZNR) reports it has acquired an option to earn a 100% interest in the Bob Lake Iron Property.

Zone Resources Inc. (TSXV:ZNR) reports it has acquired an option to earn a 100% interest in the Bob Lake Iron Property.

The press release is quoted as saying:

Pursuant to the terms of the option agreement, Zone will pay a cumulative amount of $150,000 cash and issue 1,500,000 common shares over a three year period. The Bob Lake Iron Property is subject to a 2.0% Net Smelter Royalty (“NSR”). Zone shall have an option to purchase 1% of the NSR for the sum of $1,000,000 at any time up to when a production decision is made. The terms of the agreement are subject to regulatory approval of the TSX Venture Exchange.

For the complete press release, click here.

Click here for a profile on Zone Resources (TSXV:ZNR)

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The Conversation (2)

Steve Attack

22 Jan, 2014

Quote: "Furthermore, 1 metric ton of thorium is equal to 250 metric tons in terms of efficiency in a water reactor." Could someone flesh that statement out a bit more? Also, are there any predictions as to when thorium will become a viable alternative to U3O8?